The M.A.G.I.C Offer Formula Ep 563

In the podcast, the host outlines a strategy for creating compelling offers that drive business growth without altering the underlying business model. He introduces the MAGIC acronym as a formula for crafting offers – Magnet to attract attention, Avatar to target a specific demographic, Goal to present the end benefit, Interval to set a time frame, and Container to package the offer. The host emphasizes the importance of regularly refreshing the offer's presentation to avoid market fatigue and maintain conversions, especially in local markets. The host also hints at the content of his upcoming book, which delves into creating singular offers and monetization tactics, and encourages listeners to support the podcast by leaving reviews to help other entrepreneurs.

• The importance of the front end in business conversion and growth
• The perspective of business as a game by the wealthiest people
• The concept of "magical offers" that are irresistible to customers
• The distinction between monetization structure and naming conventions in offers
• The acronym "MAGIC" as a formula for creating compelling offers

This is what's going to keep them popping and continuing to convert.

This quote emphasizes the significance of creating offers that not only attract customers but also ensure ongoing conversion and engagement.

You don't have to change the back end, right? You don't have to change the actual business model and how you make money. It's just changing the front end.

This quote differentiates between the back end (business model and monetization) and the front end (customer-facing elements), highlighting that adjustments to the front end can impact business without altering the underlying model.

The wealthiest people in the world see business as a game.

This quote suggests that successful business people approach business strategically, much like a game, where making the right moves can lead to significant gains.

This podcast, the game is my attempt at documenting the lessons I've learned on my way to building acquisition.com into a billion dollar portfolio.

The speaker indicates that the purpose of the podcast is to share strategic business insights gained while growing a significant business portfolio.

My hope is that you use the lessons to grow your business and maybe someday soon, partner with us to get to $100 million and beyond.

This quote expresses the speaker's desire to help listeners scale their businesses and potentially collaborate on larger financial goals.

I have so many things that I want to share with everyone because I'm writing this book and I just finished it yesterday.

The speaker is indicating that they have valuable information to share, derived from the recent completion of a book on creating compelling offers.

It's going to be about how to make magical offers. So offers so good that people feel stupid saying no.

Here, the speaker introduces the concept of "magical offers," which are designed to be so attractive that customers would find it difficult to decline.

And I walk through the different monetization structures that we've discovered over our time and a lot of the magical offers that created the businesses that we have.

The speaker suggests the book will cover various successful monetization strategies and the specific offers that have contributed to their business success.

So one of the subsections of a subsection inside of this book is naming the actual offers.

This quote indicates that the book will include detailed discussions on how to effectively name offers to enhance their appeal.

And so I figured I would make this for you guys because I see a lot of people struggling with making the offers, especially in local markets, convert.

The speaker acknowledges the challenges many face in creating offers that convert well, particularly in local markets, and aims to provide guidance.

You have the offer, like the monetization structure, which is behind the scenes, which is what you're going to sell when the person comes in of the upsells, and then you have the naming convention, like, what you're going to actually wrap around that to the general marketplace.

This quote clarifies the two components of an offer: the monetization structure (the actual product or service and potential upsells) and the naming convention (how the offer is presented to the market).

Over four years, you may not actually change the monetization structure of the business, but you may change the naming convention of the thing that you're showing to the marketplace 20 times.

The speaker illustrates that while the core monetization structure may remain stable, the presentation and naming of offers to the market may require frequent updates to remain effective.

The magic offer headlight formula that I put together is actually an acronym to make it easy to remember.

Here, the speaker introduces a mnemonic device they created to help remember the components of a compelling offer.

All right, so magic M-A-G-I-C stands for m the magnet. So what's the magnetic reason why someone's going to click? Is it free? Is it discounted? Is it springtime?

The speaker begins to explain the "MAGIC" acronym, with "M" standing for "magnet," which refers to the compelling reason that will attract customers to the offer, such as a discount or seasonal promotion.

A is avatar. So the avatar is to know that it's specific

The quote introduces the "A" in the "MAGIC" acronym, which stands for "avatar," emphasizing the need to tailor offers to a specific customer profile or persona.

• The concept of discrimination in marketing is about targeting a specific group or 'avatar'.
• This involves intentionally excluding groups that do not fit the desired profile.
• Examples given include demographics like "older dentists" or "dentists making over 20,000 a month".

So the idea is that we're trying to discriminate against everyone else. All right, so this would be like b cave mobs or dentists, these are like older dentists or dentists making over 20,000 a month, whatever, right? So that's, to me, discriminatory in nature.

This quote illustrates the practice of selective marketing by focusing on a specific demographic, which is seen as a form of discrimination in the context of the marketing strategy being discussed.

• MAGIC stands for Magnet, Avatar, Goal, Interval, and Container.
• It is an acronym used to create compelling marketing messages.

• The 'Magnet' refers to something that grabs the target audience's attention.
• It is the initial hook that draws in the desired 'avatar'.

First is grabbing their attention with a magnetic reason why m a is avatar.

The 'Magnet' is the first part of the MAGIC acronym, emphasizing the importance of capturing the attention of the target audience.

• The 'Avatar' is the specific group or individual being targeted in the marketing campaign.
• It is the focus of the discriminatory aspect of the marketing strategy, where all others are excluded.

So you're discriminating against everyone else and just calling out your avatar.

The 'Avatar' is the second component of the MAGIC acronym, which identifies the precise demographic that the marketing message is intended for.

• The 'Goal' is the desired outcome or benefit that the marketing message promises to the avatar.
• It could be a solution to a problem, such as pain relief, or an aspirational achievement, like filling up a clinic.

What's the goal of this thing that we're marketing to them?

The 'Goal' is the third element of the MAGIC acronym, which defines what the target audience is expected to achieve or receive through the marketing offer.

• The 'Interval' indicates the time frame within which the goal can be achieved.
• It gives a sense of urgency or timeline, such as "12 weeks" or "30 days".

The I is indicate a time interval, right. You want to give them some sort of time interval that this is going to happen in.

The 'Interval' is the fourth part of the MAGIC acronym, setting a specific period for when the target audience can expect to reach the goal.

• The 'Container' is the term used to encapsulate all the elements of the acronym into one concept.
• It can be a power word or a term like "incubator", "intensive", or "challenge" that packages the offer.

And then finally you have to package all that together into a container, right.

The 'Container' is the final piece of the MAGIC acronym, which serves to bind together the attention, avatar, goal, and interval into a single, powerful marketing message.

• The MAGIC acronym can be used to create multiple headline variations for marketing.
• It aids in the development of a monetization structure that appeals to the marketplace.

And so when I'm looking at trying to make headlines for things or different variations of headlines, you might make ten different variations. And if you use that acronym, magic, right, the magnet, the avatar, the goal, the interval, and the container, you'll be able to make quick variations of these things for the same offer in terms of the monetization structure to the marketplace.

This quote summarizes how the MAGIC acronym can be applied to generate various headline options that align with an effective monetization strategy for a product or service in the market.

• The speaker requests support in spreading the word to assist more entrepreneurs.
• The goal is to help entrepreneurs succeed financially and create better products without relying on ads or sales.

Real quick, guys, you guys already know that I don't run any ads on this, and I don't sell anything. And so the only ask that I can ever have of you guys is that you help me spread the word so we can help more entrepreneurs make more money, feed their families, make better prod

The quote shows the speaker's desire for audience support in promoting the content to benefit entrepreneurs, emphasizing a community-driven approach rather than commercial advertising.

• Reviews are crucial for improving podcast visibility and impact.
• Positive reviews can enhance experiences for employees and customers.
• A simple review can have a significant effect on the podcast's reach and influence.

"And the only way we do that is if you can rate and review and share this podcast."

This quote emphasizes the importance of listener engagement through rating, reviewing, and sharing to enhance the podcast's success and its potential to influence others.

"It would mean the absolute world to me. And more importantly, it may change the world for someone else."

The speaker expresses the personal significance of reviews and the broader impact they can have on the audience at large.

• Keeping ads fresh is key to maintaining conversion rates.
• Changes should focus on the front end, not the business model.
• Adjustments may include duration, goal, and the reason behind the offer.

"All right? And this will keep your ads fresh, right? This is what's going to keep them popping and continuing to convert."

Speaker A discusses the importance of regularly updating advertising content to keep it engaging and effective in converting viewers into customers.

"It's just changing the front end. And so with any of these things, the things especially that you're going to be switching will be the duration of time."

The quote clarifies that the changes proposed are about how the ads appear and operate, not the underlying business mechanisms.

• Understanding the audience (avatar) is critical for high-converting offers.
• Different demographics require tailored creative approaches and funnels.
• Segmenting clients can lead to more effective and personalized marketing.

"You might call out specific. If you're calling out men versus women, you're going to probably have different looking creative, different looking funnels if you're calling those people out, right?"

Speaker A points out the necessity of customizing marketing materials and sales funnels to address distinct audience segments effectively.

"If you're calling out men over 40 versus 20 year old guys, very different creative, very different copy, very different everything, right?"

This quote illustrates the need for distinct marketing strategies for different age groups within the same gender demographic.

• Speaker A has created an acronym to help remember the components of a successful offer.
• The acronym stands for Magnetic Avatar, Goal, Intention, Interval, and Container.
• The formula is detailed in Speaker A's book, which is aimed at helping readers increase their revenue.

"And so big picture in creating that formula. I like having acronyms that are easy to remember and so magical offer, so magic headlines, so magnetic avatar is called out, goal, intention, sorry, interval and container, right?"

Speaker A introduces the MAGIC formula as a mnemonic to assist in crafting compelling offers and marketing strategies.

"The book is like 320 pages right now. So I'm super excited about it. I think you're going to love it."

The speaker expresses excitement about the comprehensive nature of the book they have written, which includes the MAGIC formula and anticipates a positive reception.

• Early feedback on the book has been very positive.
• The book is expected to be a valuable resource for making more money.

"They said it was really good."

Speaker B confirms that initial reviewers have given positive comments about Speaker A's book.

"And I'm pretty excited about because I think you guys will all immediately be able to make a lot more money."

Speaker A expresses confidence that the book will be an effective tool for readers to increase their earnings, demonstrating the practical application of the book's content.

• The book's first half focuses on creating a single, powerful offer.
• Emphasizes the importance of a singular, strong proposition to customers.

"The book is about basically creating the single offer."

This quote outlines the primary subject of the book's first section, which is the development of a single, compelling offer to attract customers.

• The second half of the book deals with strategies for monetizing the offer.
• Discusses various methods to integrate free items and discount offers.
• Aims to maximize cash flow while presenting offers.

"And then the second half of the book is all the tactics around monetization."

This quote indicates that the latter part of the book provides readers with tactics on how to monetize their offers effectively.

• Importance of varying offers in B2C, especially in local markets.
• Frequent changes to headlines are necessary to avoid "banner blindness."
• The need for variation is less in national or B2B marketing.

"But when you're marketing b to c in a local market, you've got to change headlines all the time."

This quote emphasizes the necessity of regularly changing marketing headlines to maintain consumer interest and combat familiarity in local B2C markets.

• Changing the "wrapper" or presentation of the offer is crucial.
• It's not about changing the product but refreshing how it's presented.
• Regular updates to the offer's presentation help keep it fresh and engaging.

"Sometimes you have to change the wrapper for the thing. It's not that you're changing the thing you're offering, but you just need to make sure that you're getting around banner blindness."

This quote highlights the strategy of altering the presentation of an offer without changing the actual product to prevent potential customers from ignoring it due to overfamiliarity.

• Headlines should be concise but comprehensive.
• Not all five elements need to be used if the headline becomes too lengthy.
• Selective word choice can fulfill multiple headline requirements.
• Rhyming in headlines can make them more memorable and effective.

"My thought process around this is, or what I found useful is make it as short as possible, but no shorter."

This quote conveys the principle of creating headlines that are as brief as possible while still conveying the necessary information, ensuring clarity and impact.

"An interesting example of this would be sometimes there are container words that kind of hit two needs."

This quote explains the concept of using "container words" in headlines that serve dual purposes, thereby allowing for more concise and effective messaging.

"And the extra bonus points that you get for this is if you can get any of those aspects to rhyme, it will count for two."

This quote suggests that incorporating rhymes in headlines can enhance their appeal and memorability, effectively doubling the impact of the message.